77 million Xbox 360s sold

Microsoft sold 1.3 million Xbox 360 units in the past three months, helping the platform's total install base reach 77.2 million across the world since the console launched in November 2005.

The 1.3 million consoles sold during the quarter is down 9 percent year-over-year.

The company announced the new milestone today as part of its latest financial report today for the three months ended March 31. Microsoft also reiterated that Xbox Live has over 46 million members, an 18 percent surge from the year prior.

Overall, Microsoft's Entertainment and Devices division, which encompasses Skype and Xbox, saw revenue rise 56 percent to $2.53 billion. The division's operating income grew, but was offset by increased research and development expenses, which jumped by $113 million (28 percent) primarily reflecting higher headcount-related expenses.

In addition, Entertainment and Devices Division cost of revenue jumped $275 million (23 percent) due mainly to increased royalties on Xbox Live content and games. These were not specified.

"The bold bets we made on cloud services are paying off as people increasingly choose Microsoft services including Office 365, Windows Azure, Xbox Live, and Skype," Microsoft CEO Steve Ballmer said in a statement. "While there is still work to do, we are optimistic that the bets we've made on Windows devices position us well for the long-term."

Microsoft also announced that chief financial officer Peter Klein will leave the company at the end of June after spending almost four years in the role and eleven years overall at the technology giant. The company said it will name a new CFO from the company's financial leadership team in the coming weeks.